Celamin Holdings NL (ASX Code CNL) is an ASX listed company focussed on the exploration and development of resource projects in North Africa, initially Tunisia. MORE

Tunisian Partner TMS attempting to profiteer on the back of Celamin and its shareholders

Celamin alleges its Tunisian partner Tunisian Mining Services (TMS - Principal Taoufik Mansouri) has committed the following against Celamin:

Celamin is pursuing and planning a number of legal actions in relation to the share theft and debt recovery, and is concerned about the broader impact on Tunisia if the dispute is not quickly resolved.

Having been involved in Tunisia since 2009, phosphate developer Celamin Holdings NL now finds itself placed in a challenging situation by its locally-based partner TMS, whose actions, and delays in remedying the situation through the legal system, are likely to impact negatively on international perceptions of doing business in Tunisia.